#jerome powell
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Shares of another American bank collapsed
Despite Fed Chairman Jerome Powell's assurances on the stability of the banking system, PacWest Bancorp's stock has plummeted 58% in late trading. PacWest, struggling in the wake of three competing California-based lenders' collapse, is now considering a range of strategic options, such as a potential sale, breakup, or capital raise. 
6:00 PM (UTC): U.S. Fed to Clarify Its Stand on Interest Rate
The likelihood is high, at 99%, that the interest rate will stay the same. This is because the Federal Reserve is still gauging the effect of the current rate on the economy.
Following the decision, there will be a press conference by Jerome Powell 30 minutes later. Given the potential for market shifts from his remarks, traders are advised to hold off on transactions. 
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